BlackRock’s $400 Million Bitcoin Move Sparks Liquidity Alarm | US Crypto News
BlackRock moved $400 million in Bitcoin to Coinbase Prime just before the PPI report, raising liquidity concerns amid record ETF outflows.Summary
BlackRock recently transferred 4,471 BTC, valued around $400 million, to Coinbase Prime shortly before the release of the US PPI report, triggering concerns about potential US liquidity shocks.
This move occurs while BlackRock's flagship Bitcoin ETF, IBIT, experienced its record monthly outflows, exceeding $2 billion. Data from Arkham shows BlackRock's associated wallet value has dropped significantly over the past month. Analysts are debating whether this signals preparation for tighter liquidity, a view supported by macro concerns over widening credit spreads, as noted by VanEck's Matthew Sigel.
However, ETF analyst Eric Balchunas provided context, noting that 97% of IBIT investors remain despite the outflows, suggesting the panic may be overstated. Furthermore, ARK Invest's Cathie Wood predicts the current liquidity squeeze affecting crypto will reverse soon, citing accelerating enterprise adoption as a positive sign.
(Source：BeInCrypto)